VN, Algeria Head to Trade Value of US$1 Bln by 2020

PM Nguyen Xuan Phuc suggested Vietnam and Algeria strive to raise the two-way trade value to US$1 billion by 2020 at his reception for Algerian FM Abdelkader Messahel on July 13 in Ha Noi.

At the meeting, the PM asserted that the Vietnamese Government expects to strengthen the relationship between the two nations, especially economics and trade to match with the political ties.

He proposed enhancing delegation exchanges, particularly high-ranking delegations and effectively realize commitments between the two sides to upgrade the relations to a higher level, expressing his hope that the two countries will boost close coordination at international forums.

The Vietnamese leader asked to continue the realization of contents reached in the meeting of the inter-Governmental Committee, adding that Vietnam welcomes the two sides’ ministries and agencies to reach the agreement of establishing a business council and negotiations on investment promotion and double taxation avoidance agreements.

Vietnam highly spoke of the gas joint venture between the two countries, he said, expecting that Algeria will continue facilitating this work, especially in terms of administrative procedures.

The PM took the occasion to request Algeria to ink the labor cooperation agreement.

Vietnam backs Algeria’s joining of the World Trade Organization (WTO) and is willing to dispatch officials and experts to help the country in this field, he said.

For his part, Mr Messahel informed the PM about the outcomes of his talks with Deputy PM, FM Pham Binh Minh.

Referring the Business Council, he suggested putting the organization into operation effectively and pragmatically.

Vietnam and Algeria need to strengthen their partnerships in major sectors like oil and gas, telecommunications, pharmaceutical production, and fisheries and agriculture, the official said, urging Vietnam to share its development experience with Algeria.

The guest used the occasion to affirm Algeria’s support for Vietnam’s bid to run for a non-permanent seat at the United Nations Security Council for 2020-2021.